Blanket exemption of late fee unfair to those who filed returns within due date: CBIC
The Central Board of Indirect Taxes and Customs (CBIC), in a series of tweets, said it had been explicitly clarified to stakeholders that the waiver of late fee was conditional upon filing the return of the said tax period by the due date.
Discoms with no headroom need to approach Centre for exemption for soft loans
State electricity distribution utilities that have exhausted wo...
Employees allowed to claim I-T exemption on conveyance allowance under new tax regime: CBDT
CBDT has now amended Income Tax rules to prescrib...
China exempts more US goods from tariffs as virus hits economy
The list of goods, posted online by the Customs Tariff Commission of the State Council, includes medical disinfectant, rare-earth metal ores, and some silicon wafers used in the electronics industry. They will be exempted from retaliatory tariffs for a year from May 19, and tariffs that have been levied can be returned.
View: Tax exemption for infra investments by SWFs and PFs — a compelling case
India sorely needs long-term, patient investment from SWFs and PFs. Many such funds have heeded the govt's call and invested in India, but more is required. Because infra investment returns are slow and low, and also because of the tax impact on returns, such funds have appraised govt of the need for tax exemption on their investment-linked income.
100% physical check of imports: Non-Chinese companies like Apple may be exempt
The heightened scrutiny of Chinese imports has led to goods getting stuck at Indian ports and airports.
Director's salary exempt from GST: Karnataka AAR ruling
The salary of a director in a company is not liable to be taxed under Goods and Services Tax (GST), the Karnataka Authority of Advanced Rulings (AAR) has said.
Green ministry plans exempting strategic projects from long-drawn clearance process
"The key point is that strategic and defence projects should not be held up for procedural reasons. While we have relaxed norms for defence projects, it is felt more needs to be done to allow timely project execution in such cases,” an official said. MHA and MoD have repeatedly taken up the issue with the environment ministry.
Gujarat rolls out red carpet for investors, exempts labour laws
Gujarat has become the third BJP-ruled state to exempt new establishments from all labour laws barring three as it eyes investments into the states from companies looking to relocate from China.
Govt issues fresh guideline on exemption for agriculture operations
The second addendum issued by govt exempted farm workers in the fields and farming operations by farmers, agencies engaged in procurement of agriculture products including MSPs, mandis notified by the State governments, inter and intra-state movement of harvesting and sowing related machines and manufacturing, packaging units of fertilisers, pesticides and seeds among others.
Trump considering suspending H-1B visas, Nasscom seeks exemption for tech workers
IT industry body Nasscom on Friday sought exemption for technology workers from restrictions that may be imposed in the US, saying such staf...
India to lose Rs 50,000 crore in forex if solar developers given exemption from customs duty on Chinese imports: AISIA
"We are happy that the government is taking measures to promote domestic manufacturing. But at the same time, it will have to also address the challenges which the domestic manufacturers are facing currently due to lack of clarity on policy front and delay in implementation of duties, amongst others," AISIA Chairman Hitesh Doshi said.
Donald Trump signs immigration order featuring numerous exemptions
Donald Trump ran in 2016 on promising to crack down on both illegal and legal immigration, making the case - disputed by many - that foreign workers compete with Americans for jobs and drive down wages because they are willing to accept lower pay.
Lower TDS and TCS rates, less PF outgo for 3 months
PF revision will benefit 43 million provident fund subscribers across EPFO and exempted establishments and 650,000 employers. It will not cover public sector enterprises and state public sector undertakings.
EPF contribution lowered to 10% for three months; TDS, TCS rates cut by 25% till March 31, 2021
While reduction in PF rates will give Rs 6,750 crore liquidity relief, the reduction in TDS and TCS rates for non-salaried specified payments and specified receipts will release Rs 50,000 crore liquidity into the system.